Economy

President Trump warns Iran: Target America and your regime 'will suffer greatly'

President Trump warns Iran: Target America and your regime 'will suffer greatly'”

The next day Saudi Arabia's Energy Minister announced that two these oil tankers were Saudi, one of which was en route to the port of Ras Tanura. One of the two Saudi tankers was on its way to the port of Ras Tanura to load oil for shipment to the US, according to SPA.

In our news wrap Monday, three oil tankers were reportedly sabotaged in the Persian Gulf, with suspicions that Iran may have been involved.

The UAE foreign ministry has said there were no casualties and the Fujairah port operations were normal.

Fujairah port is the only Emirati terminal located on the Arabian Sea coast, bypassing the Strait of Hormuz, through which most Gulf oil exports pass. Iran has repeatedly threatened to close the strait in case of a military confrontation with the US. He urged the worldwide community to ensure the security of oil tankers "to mitigate against the adverse consequences of such incidents on energy markets, and the danger they pose to the global economy".

The MT Andrea Victory, another of the allegedly targeted ships, sustained a hole in its hull just above its waterline from "an unknown object", its owner Thome Ship Management said. An investigation had been launched in coordination with worldwide authorities, it said, calling on global powers to prevent any parties trying to harm maritime safety and security.

A spokesman for the Iranian Foreign Ministry also warned about a "conspiracy orchestrated by ill-wishers" and "adventurism by foreigners" meant to undermine regional stability. The UAE foreign ministry on Sunday reported an attack on four commercial ships. The alleged sabotage caused jitters in global oil markets, as benchmark Brent crude rose in trading to over $71.50 a barrel Monday, a change of 1.3%. The Islamic Republic has threatened to block oil shipments through the Strait of Hormuz if the US halts Iranian energy exports and to scale back its obligations under the 2015 nuclear deal.

Industry sources told the BBC that the Saudi tankers affected were the Amjad and Al Marzaqah.

So far, only Riyadh confirmed that its vessels were among those sabotaged in the UAE territorial waters.

The head of the IRGC responded to us movement of military assets into the Persian Gulf as "targets".

The United States reimposed sanctions in November on exports of Iranian oil after US President Donald Trump, last spring, unilaterally pulled out of the 2015 accord between Iran and six world powers to curb Tehran's nuclear programme. The agency warned last week that Iran and its proxies might "take action against USA and partner interests, including oil production infrastructure" by "targeting commercial vessels, including oil tankers".

Falih said the attack aimed to undermine maritime freedom and the security of oil supplies to consumers worldwide.



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